Europa Oil & Gas (Holdings) (FRA:EGN) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


What is Europa Oil & Gas (Holdings) Beneish M-Score?

Europa Oil & Gas (Holdings) FRA:EGN Beneish M-Score is 0.00 as of Jun. 26, 2026.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Europa Oil & Gas (Holdings)'s Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Europa Oil & Gas (Holdings) was 0.00. The lowest was 0.00. And the median was 0.00.

Europa Oil & Gas (Holdings) Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Europa Oil & Gas (Holdings)'s Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Europa Oil & Gas (Holdings) Beneish M-Score Chart

Europa Oil & Gas (Holdings) Annual Data
Trend Jul15 Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.07 -3.92 -1.59

Europa Oil & Gas (Holdings) Semi-Annual Data
Jan15 Jul15 Jan16 Jul16 Jan17 Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jul23 Jan24 Jul24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.07 0.00 -3.92 0.00 -1.59

FRA:EGN vs COP, EOG, FANG: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Europa Oil & Gas (Holdings)'s Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Europa Oil & Gas (Holdings) Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Europa Oil & Gas (Holdings)'s Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Europa Oil & Gas (Holdings)'s Beneish M-Score falls into.


Europa Oil & Gas (Holdings) Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Europa Oil & Gas (Holdings) for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 2.9288+0.528 * 6.9612+0.404 * 1.1347+0.892 * 0.5459+0.115 * 1.1069
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.8485+4.679 * -0.630731-0.327 * 2.8089
=-1.58

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jul24) TTM:Last Year (Jul23) TTM:
Total Receivables was €1.23 Mil.
Revenue was €4.23 Mil.
Gross Profit was €0.31 Mil.
Total Current Assets was €3.30 Mil.
Total Assets was €11.60 Mil.
Property, Plant and Equipment(Net PPE) was €2.29 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.93 Mil.
Selling, General, & Admin. Expense(SGA) was €2.20 Mil.
Total Current Liabilities was €1.65 Mil.
Long-Term Debt & Capital Lease Obligation was €0.01 Mil.
Net Income was €-8.05 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-0.73 Mil.
 Total Receivables was €0.77 Mil.
Revenue was €7.75 Mil.
Gross Profit was €3.94 Mil.
Total Current Assets was €7.08 Mil.
Total Assets was €18.22 Mil.
Property, Plant and Equipment(Net PPE) was €2.82 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.32 Mil.
Selling, General, & Admin. Expense(SGA) was €2.18 Mil.
Total Current Liabilities was €0.91 Mil.
Long-Term Debt & Capital Lease Obligation was €0.01 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(1.228 / 4.231) / (0.768 / 7.75)
=0.290239 / 0.099097
=2.9288

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(3.94 / 7.75) / (0.309 / 4.231)
=0.508387 / 0.073032
=6.9612

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (3.3 + 2.288) / 11.604) / (1 - (7.079 + 2.816) / 18.22)
=0.518442 / 0.456915
=1.1347

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=4.231 / 7.75
=0.5459

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(1.32 / (1.32 + 2.816)) / (0.927 / (0.927 + 2.288))
=0.319149 / 0.288336
=1.1069

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(2.201 / 4.231) / (2.181 / 7.75)
=0.520208 / 0.281419
=1.8485

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((0.007 + 1.646) / 11.604) / ((0.014 + 0.91) / 18.22)
=0.142451 / 0.050714
=2.8089

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-8.046 - 0 - -0.727) / 11.604
=-0.630731

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Europa Oil & Gas (Holdings) has a M-score of -1.58 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Europa Oil & Gas (Holdings) (FRA:EGN) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Europa Oil & Gas (Holdings) and its competitors.
Is Europa Oil & Gas (Holdings)'s Beneish M-Score too high?
Europa Oil & Gas (Holdings)'s current Beneish M-Score is 0.00.
How does Europa Oil & Gas (Holdings)'s Beneish M-Score compare to COP and EOG?
Europa Oil & Gas (Holdings)'s Beneish M-Score of 0.00 can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Europa Oil & Gas (Holdings) and its competitors. Europa Oil & Gas (Holdings)'s current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Europa Oil & Gas (Holdings) stock overvalued right now?
Europa Oil & Gas (Holdings) (FRA:EGN) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Europa Oil & Gas (Holdings) (FRA:EGN), the current Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Europa Oil & Gas (Holdings) Business Description

Industry EnergyOil & Gas
Address 54 Charlotte Street, London, GBR, W1T 2NS
Europa Oil & Gas (Holdings) PLC is an oil and gas exploration, development, and production company. It is focused on developing a balanced portfolio of assets in the North Sea, Atlantic Ireland, and West Africa, supported by revenue from onshore oil production in the United Kingdom. The company holds interests in the Broughton North prospect, West Firsby and Crosby Warren fields, Wressle-1 well, and Whisby W4 well. In the Irish Atlantic region, it considers the Inishkea prospect in the Slyne basin and near the Corrib gasfield as its flagship project in Ireland. The company has also acquired interest in the Block EG-08 offshore in the Douala Basin of Equatorial Guinea. Its reportable segments are the United Kingdom which derives key revenue, Ireland, and West Africa.